AS USA reported Tuesday afternoon that Inter Miami CF owner David Beckham sold his stake in the club to partners Jorge and José Mas, agreeing to remain a “global face” for the club. Club representatives and the City of Miami went into overdrive to categorically deny the report.

Cristian Rivas, writing for AS and based out of Mexico City, indicated that the reported-on agreement would have no tangible impact on the operation of the club. However, the club and the city that the club will eventually call home pushed back on the assessment..

“There is no truth to this report. David is a proud owner of the team,” a club representative told WPLG-10 ABC sports director Will Manso.

David Beckham has been a vital part of the Miami MLS project since its inception in 2014. As part of his agreement to come to Major League Soccer in 2007, Beckham was given the right to form an expansion club for the price of $25 million. With expansion fees now exceeding $200 million, Beckham is likely to see a significant return on investment if and when he does decide to sell.